Homeowners are always encouraged to spruce up their property before putting it on the market, but sometimes the residence will need more than just a professional cleaning or a new coat of paint. Fixing an aging roof or furnace, upgrading an outdated kitchen, and other tasks can all run up a hefty bill.

Perhaps you don't have the money to complete this work, or you don't want to delay a sale to complete the renovations. Whatever the circumstances, you can speed along the process by listing the home for sale "as is."

Selling a home as is will let buyers know that it needs work, but the listing can still appeal to many people. However, you'll have to reduce the asking price significantly and be prepared for the possibility that a buyer might still ask you to complete some repairs.

Offering a home as is will advertise the fact that it either isn't in tip-top shape or that its systems or design are outdated. But some buyers may be willing to absorb the repair or renovation costs in exchange for a lower price. Steve McLinden, writing for the financial site Bankrate, says as is homes are usually appealing to investors who want to buy the property at a low price, increase its value through renovations, and resell it for a profit.

If the home is in particularly bad shape, buyers may be more interested in the land. Eric Stewart, a real estate broker in the Washington, D.C. area, says these buyers will want to tear down the home and build a new one on the lot. You should make sure you aren't too sentimental about the home if buyers are interested in demolishing it, since selling a home as is tends to be a popular way to wash your hands of an inherited property.

Since you're putting the onus of repair costs on the buyer, you'll need to lower the price to reflect this financial burden. Margaret Heidenry, writing for the National Association of Realtors, says you should estimate the cost of any renovations that will be required and subtract that figure from the fair market value.

The lower price can both attract and deter buyers. Marcie Geffner, also writing for Bankrate, says it can be a more affordable option for first-time buyers who aren't afraid of doing some handiwork. But buyers may also be unwilling to take on the repair expenses or worry that the as is stipulation signals that the home will have many things wrong with it.

Buyers are also more likely to make a lowball offer or ask for a further price reduction if they think you have underestimated repair costs or overestimated the home's value. The legal site Nolo says that even with the lower price, you'll still face competition from foreclosures and other discounted properties.

Even though the as is condition warns the buyer that you expect them to be responsible for repairs, you'll still have to disclose any known defects. Heidenry says disclosure requirements differ from state to state, so you should consult with your real estate agent to see what you might need to include. Stewart says some disclosures may include leaking plumbing, termite damage, or non-functional appliances.

In addition, buyers can still make the sale contingent on a home inspection and ask you to complete some repairs. You might insist that a buyer is responsible for any and all necessary work at the home, but the buyer can also decide to walk away if you do not meet their requests. If the sale falls through for this reason, you'll also have to disclose the faults that came up during the inspection with any other potential buyers. While you'll no doubt want to leave the more expensive work to the buyer, you might want to negotiate to take care of some smaller issues.

Investors who are buying with cash may be willing to eliminate some contingencies from their offer. However, Heidenry says lenders will require that buyers who need financing get an appraisal before approving them for a loan. If the appraiser determines that your home is worth less than you expect, you may have to lower your asking price, make some repairs to bring up the home's value, or ask the buyer to make a larger down payment to cover the gap between the value and their offer.

There are a few steps you can take to make an as is sale go smoothly. Getting a pre-inspection of your home will give you an idea of the scope of work that will be necessary at the property and help you set an appropriate price. It may also uncover some issues you are willing to repair on your own.

Setting a shorter time period for contingencies can help ensure that the sale is concluded quickly. This timeframe will give buyers less of an opportunity to request and complete contingencies such as an inspection or appraisal, but may limit the number of buyers who are willing to make an offer.

An as is sale will result in lower offers than a comparable property at fair market value, but an unkempt home can drive those offers even lower. McLinden says you should keep the home as clean as possible and work to improve its curb appeal.

You can also improve the property's appeal by guaranteeing that some parts of it are in good condition. Jann Seal, writing for SFGate, says you can consider offering a one-year warranty on the home's appliances and systems to help improve your home's appeal.